BEIJING, July 5, 2023 /PRNewswire/
-- Quhuo International announced the successful implementation
of its first business collaboration in Jordan. The objective of this collaboration is
to facilitate the exportation of Chinese new energy vehicles to the
international market and provide advanced on-demand delivery
technology support to the Jordanian market. Moreover, Quhuo
International is also planning to establish a global vehicle
trading platform to innovate the forms of vehicle transactions. To
date, Quhuo International has established a partnership with
Alsamih Trading Company in Jordan
and aims to expand its collaborations with more partners to jointly
promote the development of new energy vehicles in the Jordanian
market.
According to the latest statistics from CAAM(China Association
of Automobiles), in 2022, China's
exports of new energy vehicles reached 679,000 units, representing
a year-on-year growth of 120%. In the first four months of 2023,
Chinese automotive companies exported 1.37 million vehicles,
marking an impressive year-on-year growth of 89.2%. This
achievement signifies that in the first quarter, China has surpassed Japan as the world's largest exporter of
automobiles for the first time. Jordan, being a market with substantial demand
for automobiles and relying heavily on vehicle imports, holds
significant potential for the expansion of Chinese new energy
vehicles in the international market. Quhuo International has
chosen Jordan as its first
collaborating country, aiming to leverage the influential Chinese
brand presence in the new energy vehicle(NEV) industry and the
technical and product strength of the Quhuo platform to meet the
demand for new energy vehicles in the Jordanian market.
Quhuo International plans to export approximately 3,000
pre-owned NEVs to Jordan this
year. These vehicles will include models from GAC New Energy, such
as the GE3, and BAIC New Energy, including the EU5. Additionally,
the selection will also incorporate pre-owned new energy vehicles
previously operated on Quhuo's domestic car-hailing platform. By
exporting these pre-owned vehicles, Quhuo International aims to
effectively capitalize on the residual value of the vehicles,
thereby securing stable profits. Collaborating closely with
Jordanian dealers, they aim to foster the prosperity and growth of
Jordan's pre-owned car trading
market.
With over 10 years of experience in on-demand delivery within
the domestic market, Quhuo has established a mature and validated
model for managing food delivery services nationwide. Quhuo
International plans to offer the Quhuo+ food delivery system and
on-demand delivery solutions to the Jordanian market, providing
distributors with diverse revenue opportunities. By partnering with
Jordanian distributors, Quhuo International aims to enter the realm
of internet-based delivery and transportation, effectively filling
market gaps. Furthermore, the integration of Quhuo's food delivery
technology and on-demand delivery solutions will enable
distributors to make full use of idle vehicles and maximize the
economic value of their vehicle inventory to a certain extent.
Quhuo International's strategic business expansion in the
Jordanian market goes beyond automotive sales and on-demand
delivery technology support. It encompasses a broader vision of
utilizing internet technology to build a global vehicle trading
platform. This platform will integrate the distributor resources of
Quhuo International across 58 countries and regions, providing
Chinese automotive manufacturers with additional export channels
and offering diversified supply sources to overseas distributors.
Through innovative transaction models, Quhuo International aims to
bring forth more business opportunities and collaboration prospects
for all stakeholders in the industry, fostering the development of
international automotive trade.
Mr. Liang Bo, the General Manager
of Quhuo International, believes, "This collaboration is not only
our first project involving overseas countries since our
establishment but also a crucial step in expanding our overseas
business strategy. The current demand for vehicles in Jordan presents favorable development
potential for the exportation of Chinese new energy vehicles,
offering an opportunity to promote the growth of Chinese new energy
vehicles in the international market. Quhuo International will
leverage the influential Chinese brand presence in the NEVs
industry and the technical strength of Quhuo to meet the demand for
NEV in the Jordanian market while providing additional internet
technology support. We look forward to this collaboration with
Jordan, which serves as a starting
point, and we will continue to seek further partnership
opportunities to jointly drive the prosperity and development of
the new energy vehicle industry."
Leslie Yu, Chairman and Chief
Executive Officer of Quhuo, emphasizes the significance of this
business collaboration: Quhuo will continue to uphold the concept
of open cooperation and expand partnerships with more countries and
regions, jointly driving the sustainable development of the global
automotive industry. Through open collaboration, Quhuo Internatonal
aims to go beyond simply assisting manufacturers and distributors
in addressing vehicle supply issues. Quhuo will also share their
proven on-demand delivery technology with their partners, fostering
collective progress within the industry. Quhuo believes that
through collaboration with partners, the global automotive industry
will experience greater prosperity and sustainable development.
About Quhuo Limited
Quhuo Limited (NASDAQ: QH) ("Quhuo" or the "Company") is a
leading gig economy platform focusing on local life services in
China. Leveraging Quhuo+, its
proprietary technology infrastructure, Quhuo is dedicated to
empowering and linking workers and local life service providers and
providing end-to-end operation solutions for the life service
market. The Company currently provides multiple industry-tailored
operational solutions, primarily including on-demand delivery
solutions, mobility service solutions, housekeeping and
accommodation solutions, and other services, meeting the living
needs of hundreds of millions of families in the communities.
With the vision of promoting employment, stabilizing income and
empowering entrepreneurship, Quhuo explores multiple scenarios to
promote employment of workers, provides, among others, safety and
security and vocational training to protect workers, and helps
workers plan their career development paths to realize their
self-worth.
Safe Harbor Statements
This press release contains ''forward-looking statements''
within the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended and the Private Securities Litigation Reform Act of 1995.
All statements other than statements of historical or current fact
included in this press release are forward-looking statements,
including but not limited to statements regarding Quhuo's business
development, financial outlook, beliefs and expectations.
Forward-looking statements include statements containing words such
as "expect," "anticipate," "believe," "project," "will" and similar
expressions intended to identify forward-looking statements. These
forward-looking statements are based on Quhuo's current
expectations and involve risks and uncertainties. Quhuo's actual
results and the timing of events could differ materially from those
anticipated in such forward-looking statements as a result of these
risks and uncertainties, which include, without limitation, risks
and uncertainties related to Quhuo's abilities to (1) manage its
growth and expand its operations, (2) address any or all of the
risks and challenges in the future in light of its limited
operating history and evolving business portfolios, (3) remain in
its competitive position in the on-demand food delivery market or
further diversify its solution offerings and customer portfolio,
(4) maintain relationships with major customers and to find
replacement customers on commercially desirable terms or in a
timely manner or at all, (5) maintain relationships with existing
industry customers or attract new customers, (6) attract, retain
and manage workers on its platform, and (7) maintain its market
shares in relation to competitors in existing markets and its
success in expansion into new markets, as well as the length and
severity of the recent COVID-19 outbreak and its impact on Quhuo's
business and industry. Other risks and uncertainties are included
under the caption "Risk Factors" and elsewhere in the Company's
filings with the Securities and Exchange Commission, including,
without limitation, the final prospectus related to the IPO filed
with the SEC on July 10, 2020 and the Company's latest
annual report on Form 20-F. You are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. All forward-looking statements
are qualified in their entirety by this cautionary statement, and
Quhuo undertakes no obligation to revise or update any
forward-looking statements to reflect events or circumstances after
the date hereof.
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